7 ms·
> If you have 30 offers within 2 days, but then reject them all waiting for another buyer, the buyer you wait for has to outbid the 30 previous buyers to make i
by sigstoat 6y ago
> If you have 30 offers within 2 days, but then reject them all waiting for another buyer, the buyer you wait for has to outbid the 30 previous buyers to make it worthwhile.
my recollection from buying a house (even in the buyer's market of 2008? or 2009? eh), was that the seller had 7? days to accept/reject. so sellers now should be able to just accumulate a pile of offers, i'd think, before having to reject any?
> They'd rather have 2 sales a week at 98% of max price than 1 sale a week at 100% of max price.
well, that certainly makes sense. that extra 2% times their 7% probably isn't worth any risk, let alone screwing around further on your house when they could be moved on to the next one.
in the end i expect a bunch of factors are contributing, and i'm expecting the explanation to be more satisfying than whatever reality is going to provide.
- awb 6y ago> my recollection from buying a house (even in the buyer's market of 2008? or 2009? eh), was that the seller had 7? days to accept/reject The expiration of the offer is determined by the prospective buyer. You can write an offer that expires in 1 hour if you wanted to. But most people do say 1 week. > so sellers now should be able to just accumulate a pile of offers, i'd think, before having to reject any? Yes, most sellers here collect sealed offers for 1 week and then review them all at once. It's rare to have a house with no issues not accept an offer after 1 week. Some sellers even choose to just list for a weekend though. It's insane.